Quick glances at the Renkostreet Trading System will reveal that it is compatible with both major and small currency pairs. Renkostreet trade system visually blends the channel indicator, pivot high lows and semphore indicators.
A trend strength indicator can be created using a histogram to display trends.
I must admit that I’m not a big fan of commercial trading systems. The makers tend to overhype the product and not add any real value. The Renkostreet trading platform has the exact same feeling of hype as reality.
The Renkostreet trading system is commercially sold for $59.00, marketed as a “special price.” The original price is claimed to have been $99.00. One example of a marketing strategy is found among many trading systems that you can find online at Clickbank.
Renkostreet trading system – Indicators and EA’s
The Renkostreet trading system comes with the following indicators, templates and EA’s.
- Renko EA
- The Trailing Stop EA
How do you install Renkostreet’s trading system?
Renkostreet Version 2 utilizes the Renko Expert Advisor (version 3.2). The Renko expert advisor version 3.0 has been reviewed here. However, version 3.2 does not automatically update Renko charts during market closures.
Renko expert adviser version 4.3 works better and is available even during closed markets.
After installing the indicator, open the offline Renko Chart. You can then right-click on it and choose from any of the available templates.
Renkostreet Trading system – templates
What is the working principle of Renkostreet indicator?
In the Renkostreet trading platform, there are three indicators.
After selecting a template you’ll see the three major elements of your trading screen. The Renkostreet STF indicator is located at the top.
It is used to determine whether the currency trend is bullish, or bearish. This strength indicator also displays a numerical value, with 100 representing the highest level and zero representing the lowest.
Next is the Renkostreet Channel. The Renkostreet channel is a combination of the Donchian indicator and the semphore indicator, which plots pivot highs/lows.
It is important to remember that both the low and high indicator repaints. According to the makers of the Renkostreet indicator, the repainting factor shouldn’t be an issue. Because a signal can only be valid if all three indicators confirm it.
What is the best way to trade using Renkostreet’s trading system?
All three of the indicators must be confirmed before you can trade. These are the rules that must be followed in order to set up a buy setup. Green must be shown on the currency strength meter. Renkostreet’s trend indicator indicates a buy, while the Renkostreet channel indicators plotting a low local currency.
It is difficult for a visual backtester to be able to see past signals because the Renkostreet strength meters are constantly changing.
Test a signal with the Renkostreet trading platform
Thus, the stop loss initial was 40+ pip at the local high formed.
Renkostreet trading system – Sell example
According to the trading rules of the Renkostreet trading platform, you should trade short or long as soon as you receive an alert. The recommended take profit level is expected to be 10 – 15 pips before the horizontal line.
However, the risk/reward set up wasn’t that great. A new short position was created after price had pulled back one box lower. It is similar to the original entry.
The risk involved was only around 40 Pips, while the reward was 30 Pips.
It was clear that the price movement continued to move higher. In a matter of minutes, the currency strength meter quickly changed from the -35.8 shown above to +99.
Check out the following chart.
Renkostreet trading system – sample sell signal
After the unexpected, but not surprising, reversal I used another trading strategy and was able to make a profit.
Renkostreet trading system review – Conclusion
As with many Clickbank trading platforms, Renkostreet offers much hype, but is not able to deliver on its promises.
Although you might be able to get a winning trade every now and again, the risk/reward setup means your winners must outweigh the losers.
Renkostreet trading system doesn’t justify the fact that you use three separate indicators only to get mediocre trading results.
Interesting to observe is the fact that Renkostreet traders system developers contradict some points. For example, in the manual’s frequently asked question, the Renkostreet trading system developers mention that the system does not give reliable signals.
The Renkostreet trading platform was tested for its reversal following entry. This is one of their common findings. Renkostreet’s creators had these words to share:
“We should thank God That has given us the gift of a Trading Art.This is Trading.Nobody knows exactly what is the next trend and there is no perfect system around the world.No Holly Grail.Let us enjoy how wonderful the art of trading.Either loss of Profit.”
It makes me wonder if it is appropriate to praise God for the $59 we lost on an ineffective trading platform such as Renkostreet.
Renkostreet creators note, however, that you should also look at daily candlestick charts (H4) and daily chart, which is quite ironic. Renko charts are the best for trading with Renko charts. It defeats the purpose to switch back to H4 or daily timeframes.
This comment by Renkostreet is the best.
“Also try to combine with overbought/oversold area,chart patterns,fibo lines,candle pattern D1 or H4.As I said before that you have to be 100% confident in that what you are doing. You will succeed if you do this! Whatever system you use to trade.”